Affordable Project Opens on Madison Street in Bed Stuy

Late last week, The Madison Putnam, a new $15.3 million, 48-unit affordable housing development opened at 926 Madison Street in Bedford Stuyvesant. The project is made up of seven buildings built on seven previously-vacant, city-owned lots and includes 13 one-bedroom, 27 two-bedroom, and seven three-bedroom rental apartments. 38 units are priced below 60 percent of the Area Median Income ($49,800 for a family of four), the other ten are priced for families earning 40 percent of the AMI ($32,040 for a family of four). Each building is a four-story walk-up with floor-through apartments and access to a rear garden. The Madison Putnam was built under the city’s New Housing Marketplace Plan by the Community Preservation Corporation.GMAPPhoto by Peter Calvin